Globe Life (NYSE:GL) Releases Quarterly Earnings Results

Globe Life (NYSE:GL) issued its quarterly earnings results on Wednesday. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43, Yahoo Finance reports. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 EPS.

Globe Life Stock Down 3.9 %

Shares of NYSE:GL traded down $4.24 during trading on Friday, hitting $105.15. The company’s stock had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. The company has a market capitalization of $9.47 billion, a PE ratio of 10.04 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day moving average price is $105.37 and its two-hundred day moving average price is $90.88.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Piper Sandler boosted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley boosted their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.